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FTSE 250 movers: Vistry slides, miners shine
(Sharecast News) - FTSE 250 (MCX) 22,836.80 -0.42% Housebuilder Vistry fell as it reiterated full-year guidance despite Budget uncertainty weighing on private house sales in the second half. Updating on trading in the year to December end, Vistry confirmed adjusted pre-tax profits were on track to come in around £270m, up from last year's £263.5m and in line with expectations.
Revenues, however, were broadly unchanged at £4.2bn, after the total average selling price rose 3% to £282,000 but completions fell 9% to 15,700. Vistry said the slowdown in sales reflected "uncertainty driven by the Budget, causing a more subdued market in the third quarter and the first half of the fourth quarter".
Miners were in favour as precious metals prices soared amid geopolitical tensions.
"Endeavour Mining was boosted by ongoing strength in the gold price, with the metal hitting $4,639 per ounce. Gold has become an investor favourite over the past year thanks to a backdrop of uncertainty around geopolitics, inflation and a weakening US dollar," said AJ Bell head of markets Dan Coatsworth said. Hochschild Mining was also up.
Me Group slid after shareholder Montefiore Investment sold its entire stake in the vending machine and self-service laundry company in placing, at a significant discount.
Bytes Technology was knocked lower by a downgrade to 'hold' from 'buy' at Jefferies.
Asset manager Ashmore retreated ahead of a trading update on Thursday.
FTSE 250 - Risers
Endeavour Mining (EDV) 4,274.00p 4.04% Ceres Power Holdings (CWR) 286.20p 2.95% Jupiter Fund Management (JUP) 174.40p 2.59% Hochschild Mining (HOC) 580.00p 1.67% Oxford Nanopore Technologies (ONT) 154.30p 1.58% Close Brothers Group (CBG) 493.40p 1.52% BlackRock World Mining Trust (BRWM) 953.00p 1.49% Johnson Service Group (JSG) 137.40p 1.48% AEP Plantations (AEP) 1,390.00p 1.46% Moonpig Group (MOON) 210.00p 1.45%
FTSE 250 - Fallers
Vistry Group (VTY) 635.60p -6.97% Me Group International (MEGP) 133.80p -6.17% THG (THG) 41.60p -4.67% Ashmore Group (ASHM) 180.40p -4.30% Hays (HAS) 48.84p -4.14% Bytes Technology Group (BYIT) 352.40p -4.13% Applied Nutrition (APN) 237.75p -3.74% C&C Group (CDI) (CCR) 127.80p -3.18% Gamma Communications (GAMA) 889.00p -3.05% Future (FUTR) 509.00p -2.86%
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